IBEX 35 Futures Forecast December 14, 2012, Technical Analysis

The IBEX Index rose during the session on Thursday, and even pierced the €8000 level. However, we did not manage close above it, and as such the resistance is still holding the buyers back. If you’ve been watching our videos, you know that we are presently waiting for a break above the €8200 level, something we simply have not got quite yet.

We believe that the markets will continue to bounce around between €7600 and €8200 until the end of the year. After that, there is the possibility that we finally break out, but we will need to see continued strength in this market in order to believe in a breakout. Also, we need to see a move above the €8200 level.